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Thu 09 Sep 2010Non-life insurance market reports underwriting loss
THE NON-LIFE insurance market sustained an underwriting loss last year for the first time since 2002, as the insurance industry was hit by the double-whammy of the recession and extreme weather events.
The Insurance Federation Industry’s Factfile for 2009, which will be published today, shows that total premium income in the non-life sector (which includes motor, property and liability insurance) shrank by 6.3 per cent to €3.12 billion. Household insurance was the worst-performing class within the sector.
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